tv Taking Stock With Pimm Fox Bloomberg December 6, 2013 5:00pm-6:01pm EST
♪ >> this is "taking stock," for friday, december 6, 2013. i am pimm fox. we are focusing on trail blazers, taking different approaches to change their industry and the world. nelson mandela certainly changing the world, the legacy he left the hide. plus, ted williams, known as " the kid" and "the splendid splinter" one of baseball's all-time greats. and the kid who may become the
next warren buffett. all of that and more over the next hour. first, let's go to the headlines from our radio cohost carol massar. a five-&p 500 snapping day slide, gaining more than one percent, after better than expected u.s. jobs reports. dropped toyment rate a five-year low, payroll with 203,000 jobs added. sears is looking to spin off its lands end unit which has remained profitable despite the company struggles. and there was much glitz and glamour for today's world cup draw. rizzo will faced mexico, -- brazil will face mexico, cameroon, and portugal. those are some of the top headlines. massar. you, carol the world mourns the loss of one of its great leaders.
nelson mandela emerged from 27 years in prison to become south africa's first elected black president, dying yesterday at the age of 95. the comments of about mandela from former u.s. vice president al gore, the democratic alliance leader, and chris williams. is probablyndela the preeminent global leader for his life of courage and commitment, and inspires me. >> nelson mandela is our george washington. he has a legacy internationally, and his legacy is primarily ,econciliation, redress constitutionalism, and the rule of law, open market economies, diversity, and non-racialism. >> i am extremely sad. it is tragic news. just remind it what an extraordinary and inspiring man nelson mandela was. my thoughts are with him and his family. >> i want to introduce you now
to an ambassador who has dealt with nelson mandela in the past, the first woman u.s. ambassador to south africa, and the senior director for african affairs at the national security council, currently a distinct professor at carnegie mellon university and also the director of the carnegie center for international policy and innovation. ambassador, thank you so much for joining us. tell us about meeting nelson mandela in person and what it was like. >> i first met nelson mandela in 2001 at the white house in the oval office when he came to meet with president george walker bush. i was, of course, like everybody else in the white house, all inspired.-- awe- he was frail at the time, but he was a very straight up guy, very tall, a magnificent presence.
and even though president bush, for instance, help him walk out to the rose garden to make a statement, when his body, the frailty of his body was not matched by the strength of his mind. he was a man of very strong conviction. he had clear ideas about global politics. the meeting really was inspiring to me as a person who works political science and international affairs. to see a guy with his experience and conviction, yet still his embrace and outreach to the united states, and frankly, to world leaders globally. he at one time could deal with the president's vision at the same time dealing with the president of libya and the he ad of the palestinian authority. he was a really man who reached
widely for the purpose of bringing peace to this world. havebassador frazer, you met with many leaders from all over the world, particularly in africa. you have experience in kenya, zimbabwe, somalia. what did nelson mandela mean for africa? >> nelson mandela is the symbol of freedom in africa. many of the people across the continent rallied behind the veryapartheid struggle, a long struggle. remember, the national african congress actually started in 1914, and the country did not move to nonracial democratic governance until my 294, which was always the goal of the anc. and whether one is from nigeria or tanzania or closer to home, mozambique, across africa people rallied behind the anc in that
struggle. i think president mandela stood for freedom, and he now stands for integrity and perseverance. the continent needs to move towards that in terms of the next phase of the struggle, which is political freedom has been achieved now. economic freedom is necessary. >> speak a little about your own experience in relation to the perspective of nelson mandela, particularly when it comes to nonviolent protest, and in violence in africa, as well is the work you have done combating aids in africa. >> i really respect president mandela, again, because of his conviction. he was a person who started as he did, in terms of nonviolent struggle against apartheid regime, and at some point he realized the level of repression of the national party required a more robust response, which was moving towards arms struggle.
leader likefound a erk who could negotiate with the national party that was now ready after the mass demonstration movement in south africa, which was ready to negotiate, he said put down your arms. he was a man who looked at the necessary task for the moment at hand. i think his leadership also came thewith the effort to end scourge of hiv and aids in south arica and across africa as whole. he himself said he was slow to realize how deep the crisis of the aids pandemic was, yet when he did he stood up and was a leader and spoke out forthrightly about hiv and aids. he was the type of leader that when we put together the president's emergency plan for aids relief under george w. bush's administration, one of the key card key area -- one of
the key criteria was to find leaders like nelson mandela and others who would speak forthrightly about the challenges, make sure there was no stigma in society, and a specialt to antiviral drugs. , what youdor frazer take away as their reaction to nelson mandela's death. ugabe, in zimbabwe, a colonial past. >> many would say that robert and nelson mandela, there was a little bit of a rivalry there, particularly on mugabe's part because when he became president of zimbabwe he was wrong respected globally -- he was well respected globally. his economy was starting to fail.
it was not a redistribution of land. he then blamed it on the white population and dispossessed them of the land. president mandela when he came to power essentially compromised , and he was very clear he was going to move more slowly on the economic front so that he could to especiallyity the white population there, but there are still these challenges of land reform in south africa that needs to be addressed, but nelson mandela's whole demeanor of reconciliation, of reaching andto one's former enemy also the philosophy of the anc political party of a nonracial south africa, i think, will lead to very different choices, or lead to very different choices and nelsonert mugabe mandela who stood for and believed and enforced a philosophy of reconciliation, a south africa for
all south africans, whatever their race or religion, whatever their nationality or ethnic group. >> thank you very much for joining us. former u.s. ambassador to south , helpingjendayi frazer us discuss nelson mandela, a global leader who will be missed. this is "taking stock" on bloomberg. ♪ >> this is "taking stock" on
street.com, draft and barry stiller has taken notes. his company recently purchased draftstreet.com. former on the popularity of fantasy leagues, i am joined by their chief executive, brian schwartz. thank you. before you came on, you do not expect to be running a company that is doing fantasy sports when you were at the university of wisconsin madison, were you? >> nope. i knew that i would get into something digital, but fantasy sports was a dream i never thought would come true. >> you had been playing since the age of 11? or 12, i was picking up newspapers, checking the stats to see how my team was doing. >> how does draftstreet.com work? drafting a teaminin for the whole season, and you draft a team for the week.
you draft a team of players from any nfl team that you want. my team will compete against others for that one week. i will dress a team for this sunday. the end of the games on monday night, the league is over. >>, the people have signed up for this? 0> we have over 350,00 registered users right now. sports,ly divided among baseball and football? >> football is the most popular, but we did a lot of action in baseball and basketball, and we also have college sports, which is a little lower. intolly they will come play football, but they see there is basketball and baseball and they will start playing those because they still enjoy it. >> what is a cost to participate street.com empire? >> it is free every week.
that said, if you want to win a little money, you can wager money. you can wager as much as $400 or as little as two dollars. >> how do you deal with the loss of prescribed internet gambling and gaming online? >> the federal government has classified fantasy sports as a game of skill, so it is completely legal to wager on fantasy sports. >> by having that the station, you don't have to worry about the rules governing online gaming. >> correct, it is in the roles that we are exempt. >> what is next for draftstreet.com? where were you be old and revenue? -- where will you be building revenue? >> there are over 30 million americans playing fantasy sports, so we think we can expand. and we can expand to new sports. we're planning on having soccer for the world cup next year. >> will you have to hire a lot more people who are more familiar with soccer? >> definitely, we want experts
in every sport that we offer. the leagues are based on how we price different players. so you get a fair pricing of every player you want to draft, so we went to be experts at soccer as well. >> how have you done on the website? >> i only play against my coworkers and friends. i don't want to brag, but i do pretty well. >> does barry diller play fantasy sports? >> not yet. he sees the potential of the product, but i don't think he is a fantasy fan himself. >> you said more than 350,000 registered users. do they all pay or some of them free? will play in%, 15% the pay league. >> is there an average wager? >> each individual over their lifetime will wager somewhere around 3000, $4000. >> 3000, $4000?
any specific target as far as active users? million, 15et to 10 million. we think we can take a bigger part of the fantasy sports expand beyond it. people with analytical minds can apply to fantasy sports. us, the you for joining chief executive of draftstreet.com. coming up, the business of running a successful art museum. my guest, the director of the gucci museum in new york city. this is "taking stock" on bloomberg. ♪
that is according to the american alliance on museums. st knows about the challenges of running a successful museum, running the ug museum across the river from manhattan. thank you for coming into "taking stock." somebody get to be a museum director? >> maybe if you are not really good in finance, you have to find another way. i have always been in love with art and i was very fortunate to find jobs in new york and in the arts. i was the first director of the we havert fund, which had extraordinary supporters, as has been the bloomberg company. i went on to lower manhattan cultural council in the pre-9/11 new york city, and then i was with the museum. i have been there 10 years and
it has been an exciting trajectory. >> michael bloomberg is the founder and majority owner of bloomberg lp, the parent company of bloomberg media. the gucci museum, you combined the foundation with the museum. why that such an usual situation? , youd a public foundation are able to do a lot more than in a private foundation. you have to respond to many more laws, you have to have certain percentages of money that you raise versus money coming from the income from an endowment or cash reserve fund, and actually after the museum opened, sandburgin 2004, mr. approached us and wanted to give us 20 $5,000. she could give us the money as a private foundation, but you cannot get a tax deduction for it. robust is a healthy and
urbanization, but we did have a deficit. one of the challenges to address was to know longer have a deficit. it created an entity that would enable a structure that would enable one to receive money, and those who gave money to get tax deductions was key. so we got a new irs status, c3 charitable foundation, and we also received chi museum.s the nogu prior to that, the noguchi foundation which was the museum was a program of. >> how would you describe the work of noguchi to those are not familiar with this culture or art? york, mother was from new his father was japanese. he called himself a global artist at the time. it was before the motions of multiculturalism and biracial. he was born in 1904.
he was extraordinarily prolific in that he worked in parks, landscapes. he was a precursor to all of the artists that went on to be known as earthwork artists. he did parks, playgrounds, theater curtains, theater sets. he had an association with martha graham for 50 years. many people do not realize the big stainless steel piece in rockefeller center, which is in the building, he did that as a young guy on commission. he did the red cubes on wall street, on broadway. course, thatbe, of lies on its point on one of the corners. the combination of the foundation with the museum, but also bringing added responsibilities in terms of the kinds of programs that you put on. give us an idea of what you are doing for young people and also outside of new york. >> we have a cousin museum in
japan, which is where his studio was. the works there are owned by an art museum here. we have an interesting symbiotic veryionship and international in scope. we are not just local by any means. noguchi was the only artist in the united states to found a museum during their lifetime dedicated to his own work. programs forful little kids, young citizens, art s, which is great for families when they come on saturday mornings and they need to do something with a child and it is early and they come to our museum saturdays and sundays. we also have a lot of family programs. >> how can people find out more, just go online? >> go to our website and come see our fantastic exhibition, which is on right now. which actually features one of the most imitated chinese artists been focused on as the
for today's market moving headlines, let's go to mark crumpton. >> a frigid winter storm has iced powerlines and runways across the southern united states, grounding over 2000 flights. the subfreezing temperatures have knocked out electricity affecting thousands of customers. it could also affect natural gas production in the central u.s. you past tuesday, pimm, spoke to stop the bees about the sale of bruce springsteen's original "born to run" manuscript at sotheby's. 0ventually sold for $197,00 nearly double the original estimate. also spoke with christie's auction house about it sale of bob dylan's 1964 vendor stratocaster electric guitar. it is known as the birth certificate of rock 'n roll.
000.y it sold for $965, coming up on "bottom line" at 7:00, the bank of tokyo mitsubishi will join me, discussing the positive numbers from today's job report. loss, it is oscar season. the big movies coming out this month. that is coming up tonight at 7 p.m. on "bottom line." hope to see you then. >> thank you very much, mark crumpton. mark, you shouldn't have. my next guest has written a bike from one of the greatest hitters in major league history. ted williams died more than a decade ago. it took about 10 years for ben bradlee jr. to write his book, the title "the kid: the immortal life of ted williams," and he gets into ted williams professional and personal life including the controversial decision to freeze his body after his death.
ben, thank you very much for coming in. journalist, up in boston for many years. where did you get your love of writing and journalism? >> well, you know, i have been in the business quite a while. it might be in the genes, i'm not sure. i started as a reporter in california, a small paper, the riverside press enterprise, i wrote a couple of crime books out there. i had grown up in boston, and when i got a chance to work at "the boston globe" in 1979 as a young reporter, i moved back home. >> who turned you on to ted williams? >> williams was a figure in my life. he is perhaps my hero growing up. my room was plastered with pictures of ted williams from magazine photos, and i saw him play as a kid, got his autograph once.
>> you still have the ball? >> i still have the ball. the ink is fading badly with the passage of 50 years, but i've got it. >> what was ted williams like on the field? >> he was a presence. he really was. the atmospherics of fenway park changed when he came to bat. i was struck by that. people were at the edge of their seat and there was electricity in the air. i spoke with an old sportswriter who told me that he once noticed a blind man at fenway park watching, figuratively, the game. the reporter went up to the blind man and said, excuse me, why are you here when you could be home listening to the game? he said, i like the sounds of the park when ted williams comes to bat. >> what about ted williams' personal life? >> complicated. he was an angry man. >> what was he angry about?
>> i think the circumstances of his childhood, which were almost n.kenzie he had a rough childhood. his mother was out at all times of night, saving souls in san diego for the salvation army, and not home for tending to her son and his younger brother. the father was not a presence, and he sort of presented their absence. he was able to channel this anger constructively on the baseball field. he like to play angry. he used that as a motivator. he thought that he hit better that way. but the anger bubbled up at him inted times and hurt his personal life. he went through three marriages very quickly, and it cost him difficulty relating to his children. >> his children also figure in
his death after he died. what did his son do? >> his son was interested in cryonics, which is an obscure practice. whoral hundred devotees believed that one day medical science will progress to the point where it will be possible to cure you of whatever it is that you died from and perhaps bring you back to life. supposedly convinced his father to go along with this. so his sister told me. but if he did agree to it, i am not sure he he was of sound mind at the time, and he sold several -- he told several other people i interviewed that after this decision at supposedly been made that he, in fact, wanted to have -- he wanted to be
cremated and have his ashes thrown in the keys, the florida keys. >> what do you want people to take away from reading "the kid "? >> well, that this was a very complicated, extremely accomplished person, the greatest hitter that ever lived, and i am telling really the back story of his personal life i think for the first time comprehensively. he was an extremely accomplished and angry man, but also the flipside of that was he was kind and had a decent heart, as evidenced by helping these kids with cancer. he is a decent man. >> thank you very much for joining us, the author of a new biography of ted leonsis titled "the kid," ben bradlee jr.
ted williams has been featured in many films, which brings us to our next guest. is a new social network built to connect movie lovers with movies and their studios. the chief executive officer dana loberg joins us from san francisco. explain, what is movie lala and how does it fit into the world of movie marketing? >> movie lala we are building a socially design platform for upcoming movies. we believe that nobody has built a critical social layer two upcoming films, finding friends to go to movies with. on the back and we are collecting data and analytics for studios to know who is watching their films, who the most influential person is when it comes to people who want to go to movies. effectively studios spend a lot of money marketing their films, and they still do a lot of traditional marketing, which
could be tv commercials, print ads, advertising, and nobody has really built the data and analytics and pulls to look at that market fish only online. >> has it been a challenge to get the studios interested in this or are they all over movielala? >> luckily, we have been building up the relationship with the studio since we first started in august 2012, so i feel studios are very open to hearing what we are building because they know they need to be increasing their -- decreasing their marketing costs because they still see the crime rates over the past 10, 20 years. nobody has really been able to build a tool to help the market online more efficiently. >> dana, you managed to raise some capital recently? >> i have, yes, we have very, very big investors, both in silicon valley and los angeles. we have only mentioned a few of the smaller ones, the former warner bros. president and ceo
of yahoo!, we have larry, the lead investor, and adam nash of greylock eir. we have bigger ones that we are going to be sharing coming up soon when we launched on the ipad in 2014. >> what is dana loberg favorite movie right now? >> i actually really liked "the hunger games," and i recently saw a trailer for "spiderman 2" which is coming out in summer 2014 that i'm looking forward to seeing in the movies. >> think you very much for joining us. dana loberg is the chief executive and founder of movielala, joining us from sentences go. up next, how do you get to hall?ie wil maybe with a, but little help from kick starter.
>> david burd, also known as li'l dicky, was not content being the funny guy and his office. he decided he wanted an audience. he wrote,onths performed, and published a new song every week. he built an audience. he has 95,000 subscribers to his youtube channel and is in the midst of building a successful financial backing through the use of kick starter. "'l dicky is my guest for right place, right time." i know hailpers from the suburbs of philadelphia. tell us about your times there and the university of richmond. >> yeah, the suburbs of
philadelphia have been great to me. i grope until pam, elkins park to be specific. grew up in shelton hamm, elkins park to be specific. played sports in high school, just kind of took a normal path, went to college, the university of richmond, the spiders. majored in business. i don't know what specific part you want me to get into. >> give us the idea, going from the university of richmond, then wanting to become a rap music star. -- ilittle about me is will try to say this anyway that is not arrogant, but i feel like everyone i have been close with has always considered me one of the funnier people they have met. i just was not content being the funny friend of people. i knew pretty much my whole life estimates i graduated college, because really, upper-middle- class background, growing up in the suburbs, you have to go to college.
yeah, i don't think i grew up thinking i was going to be a rapper, but a new at some point i had to make an attempt to achieve some sort of recognition comedicly. i knew the rap, fewest barriers to entry in terms of music. i wrote a screenplay in college, which was all about connections. you are in control of your own destiny nowadays in terms of online content. >> tell me a little about the destiny. you go to san francisco, for example, moving from the east coast to the west coast. what happens? how do you create a following? 95,000 subscribers right now on youtube. >> you know, i guess one huge factor for me was patients, in the sense that -- one huge
because inpatience, a broad start releasing things and i had been working on those things i had released for about two years leading up to it. like the ex-boyfriend video that went viral right away came out on april 26, but the video, i had been sitting on it for about three months. i think in a different situation, somebody might have something great and put it out online without a real strategy. thes not really -- background i come from in terms of having a job where i'm getting paid, i was not really desperate to get this out there moving quick. it was more being smart about it. i am the control of the pacing. when you have a real job come a steady income coming in, i was able to treat it in a way that one would treat a hobby. seriously, obviously, but i was able to control the layout and distribution. >> so also the use of kick ownter, connected with your
goal of trying to make this happen. you raise the money to produce these videos. >> i have the best fans in the world, clearly. kickstarter was my first attempt to get money. every thing i have done before was getting it for free. i do not know what was going to happen, but i cannot explain enough how amazing the fans have been. i have been able to raise $88,000. this entire thing was built around remaining independent. i don't know if you have seen the stuff, but it is kind of out there, not necessarily corporate friendly. the big thing i wanted to do was maintain creative control, which often times can be compromised with a record label. andher thing, as a rapper person, i like being around people. i consider myself down to earth. i just wanted people to feel like they were part of this. i obviously need them to be part of it because without them i don't have any funding, so it is
a nice reciprocal relationship where i want everybody to feel like they are part of something special and i need everybody to make something special. >> david burd, what kind of reaction have you received in addition to the fans that followed you? businesses,een potential advertisers, have you been contacted to become more commercial and more mainstream in a way that you distribute? yeah, there are various investor opportunities, but i am very cautious about giving up iy equity because i don't -- don't think there's a limit how big this becomes. and imind it will be huge don't want to give five percent of that away. brands, i wouldn't say the brands are lining up right now, but being mainstream is not something i'm necessarily worried about or trying to do. i think it will happen. if you look at the culture of rap and what is mainstream in
rap, there are some who are arguably more absurd than i am. so i think mainstream -- to do things i want to do it is bringing what i am to making that mainstream, as opposed to trying to conform. >> thank you very much for sharing your thoughts, david burd, a.k.a. lil dicky. >> thank you for having me. up, watch out warren buffett, there is a teenager on your trail and he has big investment dreams, and you will meet him next. ♪
student member of the new york securities analysts. max, thanks for coming in. this, sevenbout years old, really, looking at stock prices and annual reports at the age of seven? what made you do that? >> at seven years old i started trading. at that point i was just analyzing articles and charts. but then as time went along, i started trading gold and silver, then etf's. at 14 i taught myself options in started trading them. >> let's debt back, because your parents are involved in this, obviously you being a minor you will not have an account in your name. what is their background in the world of finance? >> my mom actually showed me the basics of the market at seven. from that point, i thought was of everything else. >> taught yourself everything else, all right. what did you learn to come up
with some of the topics you are focused on now? i know for example bank of america. >> that's right, for bank of america, the chart looks really good on that. 2003-stop ande 15 think it will go back to the $20 level. the think that buying the january 2016 $17 calls is very smart. >> wait, you're talking options. you trade options? >> that's right. >> have you been successful? options are not for everybody. >> very risky. >> what made you decide to use options as the tool? >> for options, i think the first thing is i wanted to learn more about the market, and then also for options to kind of leverage my gains and risk less. >> all right, so bank of america
is one stock. the other? >> ebay. >> what attracts you to ebay? >> ebay really has strong earnings growth, and it has held $50 the whole year, and that is key for me because i am a chart guy. i think we'll go back up to the $60 level. that is the all-time high. for that stock, think buying the april $60 call is smart. >> warren buffett, what does he mean to you? >> i mean, i followed him for many years and i have learned so many things from him. if it strategies. >> have you been to his annual meeting at? >> not yet, but soon. hopefully. >> thank you very much, max ganik, scarsdale, new york, the author of the blog top street picks. minutes past the hour. the dow jones industrial average
>> live from ebay headquarters in california, welcome to a special edition of "bloomberg west" inside ebay. it started as an auction site. it has become much more, a major -- in in online claimant online payment. the company has transformed to a bona fide silicon valley leader, and making billions annually. "bloomberg west" is at the center of it all inside ebay. are on the ebay campus live from san jose, california. am